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Cautious optimism on emerging markets

OVER the past three years, emerging-market assets have been market laggards, weighed down by concerns over the Chinese economy, geopolitical tensions and the United States' phased withdrawal of quantitative easing measures. But investor sentiment seems to be warming after the end of the first quarter. Data from EPFR Global points to a revival of interest among institutional investors even though retail redemptions continue to outpace inflows. The first quarter's overall picture, however, isn't pretty....

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